Arlo Technologies (ARLO) IPO Opens 16% Higher

Today's IPO for Arlo Technologies, Inc. (NYSE: ARLO), a subsidiary of NETGEAR (NASDAQ: NTGR), opened for trading at $18.50 after pricing 10,215,000 shares at $16.00 per share

In addition, the underwriters will have a 30-day option to purchase an additional 1,532,250 shares of common stock at the initial public offering price, less the underwriting discount and commissions.

BofA Merrill Lynch, Deutsche Bank Securities and Guggenheim Securities are acting as lead book-running managers for the offering. Raymond James, Cowen and Imperial Capital are acting as joint book-running managers for the offering.

Arlo is the award-winning, industry leader that is transforming the way people experience the connected lifestyle. Arlo's deep expertise in product design, wireless connectivity, cloud infrastructure and cutting-edge AI capabilities focuses on delivering a seamless, smart home experience for Arlo users that is easy to setup and interact with every day. The company's cloud-based platform provides users with visibility, insight and a powerful means to help protect and connect in real-time with the people and things that matter most, from any location with a Wi-Fi or a cellular connection. To date, Arlo has launched several categories of award-winning smart connected devices, including wire-free smart Wi-Fi and LTE-enabled cameras, advanced baby monitors and smart security lights.

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